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Halal


Anything that is permissible (halal or jaiz) or not impermissible (haram) under shari’ah. It constitutes of the entire set of actions, sayings, contracts, transactions and other dealings that are allowed or deemed permissible by Islamic shari’ah. For example, all transactions that don’t involve riba, excessive gharar (gharar fahish), gambling (qimar and maysir), asymmetric information, and manipulation, among others, are considered by shari’a lawful or permissible (that is, halal- in Arabic script: حلال).



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The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
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